Bank of New York Mellon Corp Has $381.61 Million Position in Voya Financial, Inc. $VOYA

Key Points

• Bank of New York Mellon trimmed its Voya Financial stake by 12.9% in the first quarter, but still held 5.59 million shares valued at about $381.6 million, making it a major owner. Institutional investors overall continue to dominate the stock, with about 96.1% held by funds and hedge funds.
• Voya Financial reported better-than-expected earnings for the latest quarter, posting $2.26 EPS versus $2.02 expected, while revenue came in slightly below forecasts at $1.93 billion. Revenue still rose 3.1% year over year, and analysts expect full-year EPS of 9.4.
• The company also paid a quarterly dividend of $0.47 per share, equivalent to $1.88 annually and a yield of about 1.9%. Meanwhile, analysts have kept a generally positive view, with a consensus rating of Moderate Buy and an average price target of $97.69.

Bank of New York Mellon Corp cut its stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 12.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,585,571 shares of the asset manager's stock after selling 829,040 shares during the quarter. Bank of New York Mellon Corp owned 6.05% of Voya Financial worth $381,606,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of Voya Financial by 75.5% during the third quarter. Allworth Financial LP now owns 351 shares of the asset manager's stock worth $26,000 after buying an additional 151 shares in the last quarter. Four Tree Island Advisory LLC increased its holdings in Voya Financial by 0.5% in the 4th quarter. Four Tree Island Advisory LLC now owns 32,532 shares of the asset manager's stock worth $2,423,000 after purchasing an additional 174 shares in the last quarter. Root Financial Partners LLC increased its holdings in Voya Financial by 59.6% in the 1st quarter. Root Financial Partners LLC now owns 573 shares of the asset manager's stock worth $39,000 after purchasing an additional 214 shares in the last quarter. GAMMA Investing LLC raised its position in Voya Financial by 7.8% in the fourth quarter. GAMMA Investing LLC now owns 2,976 shares of the asset manager's stock valued at $222,000 after purchasing an additional 216 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Voya Financial by 56.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 612 shares of the asset manager's stock valued at $46,000 after purchasing an additional 222 shares in the last quarter. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Voya Financial Stock Down 0.8%

Shares of Voya Financial stock opened at $99.76 on Friday. The stock's 50-day moving average is $88.73 and its 200 day moving average is $78.68. Voya Financial, Inc. has a one year low of $64.50 and a one year high of $103.85. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 0.92 and a beta of 0.91. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.27 and a quick ratio of 0.27.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.24. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.98 billion. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.The firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 earnings per share. Equities research analysts anticipate that Voya Financial, Inc. will post 9.4 EPS for the current year.

Voya Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, May 26th were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 annualized dividend and a dividend yield of 1.9%. Voya Financial's dividend payout ratio is currently 28.40%.

Insider Activity

In other news, insider Trevor Ogle sold 3,994 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $90.00, for a total value of $359,460.00. Following the completion of the sale, the insider directly owned 2,887 shares in the company, valued at $259,830. This trade represents a 58.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by company insiders.

Analysts Set New Price Targets

VOYA has been the subject of several recent research reports. Royal Bank Of Canada upped their price objective on Voya Financial from $91.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, July 2nd. TD Cowen upped their price target on shares of Voya Financial from $100.00 to $112.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Morgan Stanley lifted their price target on shares of Voya Financial from $84.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, May 21st. Jefferies Financial Group boosted their price objective on shares of Voya Financial from $80.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, July 10th. Finally, Weiss Ratings raised Voya Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.69.

Voya Financial Profile

Voya Financial, Inc NYSE: VOYA is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya's operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya's core business activities span three key segments: Retirement, Investment Management and Employee Benefits.

Want to see what other hedge funds are holding VOYA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Voya Financial, Inc. (NYSE:VOYA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.